Legal Question in Credit and Debt Law in New York

business credit card

About one and a half years ago i obtained an American express True Blue business Costco credit card for my business. The business has since closed, but there is a debt of about $30K on this card. Am I liable or is the now defunct business liable? Several months ago, I asked Am Ex for a copy of my application so see how it was signed, but they haven't sent it. Instead, I received a Consumer Credit transaction summons. I was given 30 days to reply to Am Ex's attorneys. The document was dated 4/29/09, but envelope was dated 5/12/09. How should I handle my reply to Am Ex?


Asked on 5/30/09, 12:32 pm

1 Answer from Attorneys
Jeffrey Shepro Jeffrey Shepro PC: NY Commercial Real Estate and Business Law

Re: business credit card

Generally individuals are not liable for debts they did not agree to be liable for however there are some exceptions. Liability in your case will most likely depend on the contract signed. There may be other defenses available to you as well. To avoid default you must either answer the complaint, file an appearance or make a motion to dismiss. There are certain defenses that must be raised in your first response or they are waived. If you would like to discuss further please call.

Best,

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Answered on 6/01/09, 10:48 am


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